C-Netters, I fell behind on my C-! accounts, three cards, due to bing on the road for business. I would like to settle with them and have them reflect paid. Should I try PFB or go the letter route? Each card is around 700 and I have $1000 I could use to pay all three. Any advice appreciated!
I am by no means an expert but after reading posts here for months now, it doesn't appear that Cap One is a company that would give you much leeway. I'd take the $1K, split it and pay off as much of each card as you can (almost half if you pay $333 to each on a $700 card, right) that will bring your minimum down to a lower level which may help you get caught up. Most of us haven't even been able to get them too remove 2 or 3 year old late pays...let alone accept settlement. Just my opinion, but good luck either way.
From reading the best anyone has got from Cap 1 witha a pay off is a R5 rating. Not worth it unless it's keeping you from getting a mortgage.
